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We model educational investment and labor supply in a competitive economy with home and market production. Heterogeneous workers are assumed to have different productivities both at home and in the workplace. We investigate the degree to which there is under-investment in human capital, and...
Persistent link: https://www.econbiz.de/10003011508
We model educational investment and labor supply in a competitive economy with home and market production. Heterogeneous workers are assumed to have different productivities both at home and in the workplace. We investigate the degree to which there is under-investment in human capital, and...
Persistent link: https://www.econbiz.de/10013318399
This paper examines the relationship between mutual fund managers' past professional backgrounds and their portfolio … performance, using Chinese mutual fund data from 2003 to 2016. We focus on managers with prior work experience either as industry … analysts or as macro analysts, the two most common career paths for Chinese fund managers. We hypothesize that managers who …
Persistent link: https://www.econbiz.de/10012946862
Compensation of private equity fund managers typically consists of a fixed management fee and a performance related … carried interest which entitles managers to option-like payoffs. We consider whether this structure tends to reward excessive … buyout funds, our results demonstrate that managers indeed have an incentive for excessive risk-taking in case only fee …
Persistent link: https://www.econbiz.de/10013023890